China | A preview of the NPC and CPPC sessions

On March 5th, 3,000 newly elected Chinese lawmakers will convene at Beijing for about 10 days of parliamentary
pageantry, the National People’s Congress (NPC). As the highest institution through which Chinese people exercise
their state power, the NPC generally has a term of five years and meets at an annual session. The NPC runs
alongside a meeting of China’s top political advisory body, the Chinese People’s Political Consultative Conference
(CPPCC) which will be held on March 3th. Together they’re known as “two sessions”.
This is the first annual session of the 13th NPC during which a new national leadership including both President and
Premier will be selected to lead the country. However, there is no doubt that incumbent President Xi Jinping and
Premier Li Keqiang will retain their positions for the next five years. Comparatively, some other items on the NPC
agenda could have attracted more attention such as the proposed amendment of the Constitution and the potential
restructure of the government agencies. On these issues, we don’t expect the full details to be disclosed until several
weeks after the NPC meeting.
Amongst other things, Premier Li Keqiang will present his annual “government working report”, in which a working
plan of national economic and social development for 2018 is to be provided. Moreover, the Premier will announce a
number of key targets for 2018, including growth, CPI, M2 and fiscal budget etc. Importantly, this NPC session will
also be the first one after the 19th Party’s Congress concluded last November. That being said, the annual working
plan at the NPC should give some tips about how China authorities will push forward the reform agenda and achieve
the ambitious long-term targets set in the Party’s Congress.

Fuente: BBVA Research

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